Acquisitions

587-621 East Boston Post Rd.

Amount: $2,600,000

Jim Coleman of Houlihan-Parnes Realtors, LLC has arranged for the acquisition of The Post Road Center, located at 587-621 East Boston Post Road, Mamaroneck, NY. This neighborhood strip center was built in 1966 and consists of 16,000 square feet. The property is fully occupied with 13 tenants. Such notable tenants are the Circle Swim Shop, Edible Arrangements, Mamaroneck Flowers, Post Restaurant, and Pizza Gourmet. The center has ample on-site parking and street parking. The acquisition was completed on an all cash basis to complete a tax free exchange. The new owners plan to make upgrades to the property and consider the purchase a long term opportunity.

 

3301 Coors Blvd NW, Albuquerque, New Mexico (Ladera Shopping Center)

Amount: Acquisition

Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC have arranged for the acquisition of The Ladera Shopping Center, located at 3301 Coors Boulevard NW, Albuquerque, New Mexico. The Retail Shopping Center was built in 1986, and consists of 128,712 square feet. The Center is currently 95% occupied by 23 national, regional and local tenants including John Brooks Supermarket, Dollar Tree, Taco Cabana, Bank of Albuquerque, Planet Fitness, the UPS Store, Supercuts, H & R Block, and T-Mobile. Burger King has executed a long term ground lease and will commence rent November 2009. The buyers assumed the existing financing of $8,962,000 at 5.25% interest only through the maturity of the loan on January 1, 2016.

 

Binghamton, New York - portfolio consisting of 111 units

Amount: $1,500,000

Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC have arranged for the acquisition of a multi-family portfolio in Binghamton. The portfolio consists of 111 units and is located at 88-90 Henry Street, 777 Chenango, 7-9 Eaton, 10 Florence St. 27 Tompkins Street and 30 Webster, in Binghamton, New York. The complexes are all within a three mile radius of one another. The purchase price for the portfolio was for $1,500,000.The transaction was handled by Steve Tierney of Woods, Oviatt, Gilman L.P.P

 

426-438 Mamaroneck Ave. - Mamaroneck, NY

Amount: Acquisition

Houlihan-Parnes Realtors, LLC have arranged for the acquisition of a two story 10,250 square foot building located at 426-438 Mamaroneck Ave in Mamaroneck NY. The property is occupied by two restaurants, four stores and six offices. Rich Hendey of Houlihan-Parnes negotiated the transaction, with Jim Coleman and Mike Schwartz also of Houlihan-Parnes arranging the financing. The acquisition financing was placed with Signature Bank. Both parties in the purchase were not disclosed.

 

45 South Main Street, Unionville, CT

Amount: $5,450,000

Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC have arranged for the acquisition of The River’s Edge Shopping Plaza. The property is located at 45 South Main Street, Unionville CT. The 2.23 acre Shopping Center consists of a two-story retail and office building containing approximately 51,628 square feet. The Center is “anchored” by CVS. Other on-site tenants include Verizon Wireless, Valley Fitness Center, Peoples Choice Pizza, and Quest Diagnostics. The property was purchased for $5,450,000.

 

40 Garden Street, Poughkeepsie, NY

Amount: $2,485,000

Jerry Houlihan and Jim Coleman of Houlihan-Parnes Realtors, LLC have arranged the acquisition of a 5-story 27,000 square foot office building in downtown Poughkeepsie, N.Y for an investment group headed by Houlihan-Parnes. The property is located at 40 Garden Street at the southwest corner of Mill Street (Route 44) and Garden Street and contains on-site parking. The buildings’ tenants include Stewart Title, Chase Bank & the Poughkeepsie Teachers union.

 

801 Encino Place NE Albuquerque

Amount: $4,850,000

Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC have arranged for the acquisition of Medical Arts Square. The 51,800 square foot medical office property is located at 801 Encino Place NE Albuquerque. The property was purchased for $4,850,000.

 

Multi-family portfolio consisting of 602 apartments in 13 locations

Amount: $14,700,000

Ed Graf and Ted Sannella of Houlihan-Parnes Realtors, LLC have arranged the acquisition of a multi-family portfolio consisting of 602 apartments. The package consists of 13 locations: Binghamton, Endicott, Endwell, and Johnson City. The amount of sale was for $14,700,000. The buyer was represented in the transaction by Steven Tierney of Woods, Oviatt, Gilman L.P.P.

 

378 Jericho Turnpike, Syosset, Long Island

Amount: Acquisition

Houlihan Parnes Realtors, Scarsdale, NY, CLK Management of Great Neck, NY and Menowitz Management, Elmhurst, NY announces the acquisition of the retail property located at 378 Jericho Turnpike, Syosset, Long Island. The property located at the corner of Jericho Turnpike and South Oyster Bay Road, which includes a Bank of America Branch, is a prime retail corner that the group will redevelop. 378 Jericho Turnpike is located within 1 mile of 2.1 million sq.ft at Crossways and Gateways office parks which are also owned by the group.

 

Horseshoe Bay, Texas

Amount: $47,000,000

Houlihan-Parnes Realtors has arranged through International Bank of Commerce (IBC) an acquisition and development loan in conjunction with a purchase of 1,617 acres in Horseshoe Bay, Texas (Austin/ San Antonio area). The development when completed will consist of an 18 Hole Jack Nicklaus Signature Golf Course and over 1,300 single family detached lots. The initial acquisition advance was $17 million and the development loan provides for future advances on competitive terms to complete the golf course and phase one infrastructure.

 

303-313 Central Park Avenue, Scarsdale, NY

Amount: Acquisition

Houlihan-Parnes Realtors recently purchased and building for retail and office use located on Central Park Avenue in Westchester, NY. The building has a toltal of 25,000 square feet and is ready for office, medical or retail use.